Highline Wealth Partners LLC Purchases New Position in CVS Health Co. (NYSE:CVS)

Highline Wealth Partners LLC acquired a new position in shares of CVS Health Co. (NYSE:CVS) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,589 shares of the pharmacy operator’s stock, valued at approximately $414,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CVS. Trajan Wealth LLC boosted its stake in CVS Health by 15.1% during the third quarter. Trajan Wealth LLC now owns 59,574 shares of the pharmacy operator’s stock worth $3,746,000 after buying an additional 7,837 shares during the period. Pathway Financial Advisers LLC lifted its holdings in shares of CVS Health by 5,864.2% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock worth $108,804,000 after acquiring an additional 1,701,331 shares during the last quarter. Walter & Keenan Wealth Management LLC IN ADV bought a new position in CVS Health during the 3rd quarter valued at about $209,000. MONECO Advisors LLC lifted its stake in CVS Health by 3.6% in the third quarter. MONECO Advisors LLC now owns 19,528 shares of the pharmacy operator’s stock worth $1,228,000 after purchasing an additional 670 shares during the last quarter. Finally, Diversify Advisory Services LLC boosted its position in shares of CVS Health by 6.8% during the third quarter. Diversify Advisory Services LLC now owns 28,301 shares of the pharmacy operator’s stock valued at $1,780,000 after buying an additional 1,800 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CVS has been the topic of several research analyst reports. Evercore ISI upped their price objective on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Truist Financial upped their target price on CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Wells Fargo & Company increased their target price on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Finally, TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and boosted their price target for the stock from $59.00 to $85.00 in a research report on Friday, October 4th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $74.58.

CVS Health Price Performance

NYSE:CVS opened at $56.53 on Wednesday. The stock has a 50 day moving average price of $59.73 and a 200 day moving average price of $59.67. The stock has a market cap of $70.97 billion, a PE ratio of 9.89, a P/E/G ratio of 0.84 and a beta of 0.54. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The firm had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. During the same quarter in the previous year, the company posted $2.21 EPS. The company’s revenue was up 2.6% compared to the same quarter last year. Equities research analysts expect that CVS Health Co. will post 6.41 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be paid a dividend of $0.665 per share. The ex-dividend date is Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.71%. CVS Health’s dividend payout ratio (DPR) is 46.75%.

CVS Health Company Profile

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.